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ACVHX AC Alternatives® Market Neutral Val C

  • Fund
  • ACVHX
  • Price as of: Mar 22, 2019
  • $8.72
  • - $0.00
  • - 0.00%
  • Category
  • Market Neutral

ACVHX - Profile

Vitals

  • YTD Return -2.2%
  • 3 Yr Annualized Return -1.2%
  • 5 Yr Annualized Return 0.4%
  • Net Assets $324 M
  • Holdings in Top 10 30.8%

52 WEEK LOW AND HIGH

$8.72
$8.72
$9.62

Expenses

OPERATING RELATED FEES

  • Expense Ratio 5.07%

SALES FEES

  • Front Load N/A
  • Deferred Load 1.00%

BROKERAGE FEES

  • Turnover 307.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$2,500

IRA

N/A

Investment Themes

CATEGORY

Market Neutral
  • Fund Type Open End Mutual Fund
  • Investment Style Market Neutral

Distributions

  • YTD Total Return -2.2%
  • 3 Yr Annualized Total Return -1.2%
  • 5 Yr Annualized Total Return 0.4%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -2.10%
DIVIDENDS
  • Dividend Yield N/A
  • Dividend Distribution Frequency Semi-Annually

Fund Details

  • Legal Name AC Alternatives® Market Neutral Value Fund
  • Fund Family Name American Century Investments
  • Inception Date Oct 31, 2011
  • Shares Outstanding N/A
  • Share Class C
  • Currency USD
  • Domiciled Country United States
  • Manager Kevin Toney

Fund Description

Under normal market conditions, the advisor intends to keep its assets invested primarily in U.S. equity securities. However, the fund may invest a portion of its assets in foreign securities. In addition, there may be times when it holds a significant portion of its assets in cash or cash equivalents.

ACVHX - Performance

Return Ranking - Trailing

Period ACVHX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -2.2% -9.0% 11.3% 60.28% 4
1 Yr -2.9% -30.2% 12.6% 59.26% 4
3 Yr -1.2% * -15.2% 6.2% 60.55% 3
5 Yr 0.4% * -9.7% 3.4% 33.65% 2
10 Yr N/A * -2.9% 13.6% N/A N/A

* Annualized


Return Ranking - Calendar

Period ACVHX Return Category Return Low Category Return High Rank in Category (%) Quintile
2018 -9.0% -27.8% 13.1% 78.13% 5
2017 -1.7% -21.2% 7.5% 55.28% 4
2016 -0.4% -26.9% 7.9% 54.10% 4
2015 0.9% -13.4% 10.0% 25.44% 2
2014 -1.2% -9.7% 7.8% 63.27% 4

Total Return Ranking - Trailing

Period ACVHX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -2.2% -9.0% 11.3% 60.28% 4
1 Yr -3.8% -30.2% 12.6% 58.52% 3
3 Yr -1.2% * -15.2% 6.2% 58.72% 3
5 Yr 0.4% * -9.4% 3.4% 44.23% 3
10 Yr N/A * -2.1% 17.8% N/A N/A

* Annualized


Total Return Ranking - Calendar

Period ACVHX Return Category Return Low Category Return High Rank in Category (%) Quintile
2018 -9.0% -27.8% 13.1% 78.13% 5
2017 -1.7% -21.2% 8.8% 55.28% 4
2016 -0.4% -8.4% 7.9% 60.66% 4
2015 2.6% -10.4% 10.4% 18.42% 1
2014 0.8% -8.8% 8.9% 58.16% 3

NAV & Total Return History

ACVHX - Holdings

Filings data as of: Dec 31, 2018

Concentration Analysis

ACVHX Category Low Category High ACVHX % Rank Quintile
Net Assets 324 M 46.3 K 7.32 B 10.64% 2
Number of Holdings 168 2 1956 26.24% 4
Net Assets in Top 10 -44.3 M -147 M 748 M 34.75% 5
Weighting of Top 10 30.8% 0.0% 433.5% 17.73% 3

Top 10 Holdings

  1. Costco Wholesale Corp 3.96%
  2. Consumer Discret Sel Sect SPDR® ETF 2.93%
  3. Stryker Corp 3.44%
  4. Walmart Inc 3.03%
  5. Industrial Select Sector SPDR® ETF 2.58%
  6. Spirit Airlines Inc 3.22%
  7. Tesla Inc 3.06%
  8. Crane Co 2.98%
  9. VF Corp 2.89%
  10. AstraZeneca PLC ADR 2.74%

Asset Allocation

Weighting Category Low Category High ACVHX % Rank Quintile
Cash
100.32% -14.35% 512.65% 7.09% 2
Bonds
0.88% -88.90% 96.76% 13.48% 2
Other
0.00% -88.72% 87.68% 17.02% 4
Convertible Bonds
0.00% 0.00% 65.77% 10.64% 5
Stocks
-0.32% -411.11% 91.54% 30.50% 4
Preferred Stocks
-0.88% -0.88% 9.08% 13.48% 5

Bond Sector Breakdown

Weighting Category Low Category High ACVHX % Rank Quintile
Cash & Equivalents
100.33% -13.24% 512.65% 7.09% 2
Government
0.88% -88.90% 30.39% 4.96% 1
Derivative
0.00% -24.38% 15.96% 3.55% 5
Securitized
0.00% 0.00% 43.21% 7.09% 5
Municipal
0.00% 0.00% 5.90% 5.67% 5
Corporate
-0.89% -0.89% 74.86% 19.15% 5

Bond Geographic Breakdown

Weighting Category Low Category High ACVHX % Rank Quintile
US
0.88% -88.90% 234.26% 12.77% 2
Non US
0.00% -171.36% 37.50% 7.80% 5

ACVHX - Expenses

Operational Fees

ACVHX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 5.07% 0.77% 322.37% 12.77% 5
Management Fee 1.65% 0.13% 2.00% 1.42% 5
12b-1 Fee 1.00% 0.00% 1.00% 1.16% 5
Administrative Fee N/A 0.04% 0.40% N/A N/A

Sales Fees

ACVHX Fees (% of AUM) Category Low Category High ACVHX Rank Quintile
Front Load N/A 2.25% 5.75% N/A N/A
Deferred Load 1.00% 1.00% 5.50% 10.00% 5

Trading Fees

ACVHX Fees (% of AUM) Category Low Category High ACVHX Rank Quintile
Max Redemption Fee N/A 1.00% 2.00% N/A N/A

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

ACVHX Fees (% of AUM) Category Low Category High ACVHX Rank Quintile
Turnover 307.00% 0.00% 6897.00% 10.07% 4

ACVHX - Distributions

Dividend Yield Analysis

ACVHX Category Low Category High ACVHX % Rank Quintile
Dividend Yield N/A 0.00% 0.65% N/A N/A

Dividend Distribution Analysis

ACVHX Category Low Category High Category Mode
Dividend Distribution Frequency Semi-Annually Annually Quarterly Annually

Dividend Payout History


Net Income Ratio Analysis

ACVHX Category Low Category High ACVHX % Rank Quintile
Net Income Ratio -2.10% -6.46% 2.72% 74.47% 5

Capital Gain Distribution Analysis

ACVHX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Quarterly Annually

ACVHX - Managers

Kevin Toney

Manager

Start Date

Oct 31, 2011

Tenure

7.33

Tenure Rank

4.8%

Kevin Toney, CFA, Vice President and Senior Portfolio Manager, joined American Century in 1999 as an investment analyst and became a portfolio manager in 2006. Mr. Toney was an associate at Toronto Dominion Securities. He has worked in the investment industry since 1993. He earned a bachelor’s degree in commerce from the University of Virginia and a master’s degree in business administration from The Wharton School of the University of Pennsylvania. He is a CFA charterholder and a member of the CFA Institute.


Brian Woglom

Manager

Start Date

Feb 26, 2014

Tenure

5.01

Tenure Rank

9.2%

Mr. Woglom, Vice President and Portfolio Manager, is a member of the team of investment professionals managing the U.S. Large Cap Value, U.S. Value Yield, U.S. Value, U.S. Mid Cap Value and U.S. Equity Market Neutral Value strategies and related accounts, and he co-manages U.S. Large Cap Value, U.S. Value, U.S. Mid Cap Value and U.S. Equity Market Neutral Value. He joined American Century Investments in 2005. Previously, Mr. Woglom was an investment analyst for Argo Partners and an analyst for the portfolio management unit of Metropolitan Life Insurance Co. He has worked in the investment industry since 1998. Mr. Woglom earned a bachelor’s degree in finance from Amherst College and a master’s degree in business administration from the University of Michigan. He is a CFA charterholder and a member of the CFA Institute.


Michael Liss

Manager

Start Date

Oct 31, 2011

Tenure

7.33

Tenure Rank

4.8%

Michael Liss, CFA, is Vice President and Senior Portfolio Manager of American Century. Mr. Liss has been with American Century since 1998. He holds a bachelor’s degree in accounting and finance from Albright College and an MBA in finance from Indiana University.


Phillip N. Davidson

Manager

Start Date

Oct 31, 2011

Tenure

7.33

Tenure Rank

4.8%

Phillip N. Davidson, CFA, is a portfolio manager. He is jointly and primarily responsible for the day-to-day management of American Century’s portion of the portfolio. Mr. Davidson is the Chief Investment Officer – Global Value Equity, Senior Vice President, and Senior Portfolio Manager for American Century. He joined American Century in 1993 as a portfolio manager. Prior to joining American Century in 1993, Mr. Davidson was vice president and equity portfolio manager for Boatmen’s Trust Company in St. Louis.


Dan Gruemmer

Manager

Start Date

Feb 23, 2016

Tenure

3.02

Tenure Rank

13.6%

Mr. Gruemmer, Portfolio Manager, has been a member of the team that manages the fund since joining American Century Investments in 2009 as an analyst. He became a portfolio manager in 2015. He has a bachelor’s degree in aerospace engineering from Iowa State University, a master’s in aerospace engineering from Washington University and an MBA in finance, accounting and strategic management from the Booth School of Business at the University of Chicago. He is a CFA charterholder.


Tenure Analysis

Category Low

0.0

Category High

28.5

Category Average

5.56

Category Mode

4.2